Relationship between Globalisation and Free Trade – Explained!

Globalisation brought about internationalisation of economic activities, especially with US and UK taking to greater interest in market coordination during 1980s. There was greater emphasis on private enterprise during Ronald Reagan and Margaret Thatcher’s regime in US and UK respectively. During this period, there were more export-oriented economies, due to the recommended path by the international funding bodies such as International Monetary Fund (IMF) and World Bank.
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